Oscar-wining producer Brian Grazer just put down $12.5 million for this Santa Monica estate. The manse, less than two miles from the beach, had been listed on the open market back in late 2007 with a much higher price tag of $22.5 million.

In addition to being the hangout for the many billionaires in the Bay Area, San Francisco has caught the media’s attention for being one of the minority areas in the U.S. that has seen a rise in command for real estate space.